Lee set to meet Vietnamese PM, discuss ways to boost trade SEOUL, April 23 (AJP) - President Lee Jae Myung, on a state visit to Hanoi, is set to hold a series of meetings on Thursday with senior Vietnamese officials including Prime Minister Lu Minh Hung to expand bilateral cooperation. Lee's meeting with Hung comes after his summit the previous day with Vietnamese President Tô Lâm, who also serves as general secretary of the Communist Party. During the meeting, the two leaders agreed to cooperate across various sectors, including nuclear power, infrastructure, artificial intelligence, critical minerals, and energy, reaffirming a goal of increasing bilateral trade from the current $94.6 billion to $150 billion by 2030. Lee is expected to discuss further details with Hung on deepening ties including major urban development projects to enhance Viet Nam's infrastructure such as Hyundai Rotem's railway project in Ho Chi Minh City, which was among the deals signed at the summit. Lee is also scheduled to have a luncheon meeting with Vietnamese National Assembly chairman Tran Thanh Man before attending a forum later in the day with business leaders from both countries to discuss ways to expand trade and investment. Among the attendees for the forum are major business leaders such as Samsung Electronics chairman Lee Jae-yong, SK Group chairman Chey Tae-won, LG Group chairman Koo Kwang-mo, Lotte Corporation chairman Shin Dong-bin, POSCO Holdings chairman Chang In-hwa, and HD Hyundai chairman Chung Ki-sun, among others. Lee returns home on Friday after touring the UNESCO World Heritage site of the Imperial Citadel of Thang Long, the final stop on his itinerary in Viet Nam. 2026-04-23 10:38:17

Korea Tourism Organization Hosts Barrier-Free Sharing Trip to Hwangmaesan Park The Korea Tourism Organization held a special “sharing trip” at Hwangmaesan County Park in Hapcheon, South Gyeongsang Province, for people considered vulnerable in travel, marking “Open Travel Week.” The newly completed park, despite its mountainous terrain, added barrier-free walkways and deck paths so wheelchair users and older visitors can reach the azalea colony near the summit. The park also removed level differences at the summit parking-lot rest area and upgraded accessible restrooms. It set up an assistive-device rental station and expanded amenities, including “sharing carts” that can carry wheelchairs. Hwangmaesan, along with the nearby Tripitaka Koreana Theme Park and Hapcheon Image Theme Park, has emerged as a key barrier-free tourism hub in the province. At the event held on the 22nd, about 50 people — including people with disabilities and older residents living in Hapcheon, as well as members of the sharing trip group — were invited as special guests. They watched an open-mic performance for JTBC’s music program “Begin Again,” staged against a backdrop of fully bloomed red azaleas. Local governments supported operations and transportation. Hapcheon County provided the sharing carts, and Ulsan Metropolitan City provided a wheelchair lift-equipped vehicle. Footage from the event is scheduled to be released in May via JTBC and YouTube. Park Jeong-ung, head of the Korea Tourism Organization’s National Tourism Division, said he hopes Hwangmaesan’s azaleas and the music will be remembered as “an unforgettable spring gift.” He said the agency will seek related projects that people vulnerable in travel can feel directly, aiming to build a tourism powerhouse without barriers. The Open Tourism Site development program supports renovations to tourism infrastructure so people with disabilities, older adults and families traveling with infants and young children can travel without restrictions. It also provides comprehensive support for experience content, visitor guidance systems and worker training. Launched in 2015, the program has surpassed 200 open tourism sites nationwide this year. 2026-04-23 10:35:12

LG Launches Platform to Develop University Startup Teams, Aiming for ‘Baby Unicorns’ LG has introduced a new platform to identify and develop university startup teams, aiming to broaden South Korea’s youth startup ecosystem. LG said it held its startup scouting event, 'Superstart Day 2026,' on Wednesday at LG Sciencepark in Seoul’s Magok district, where it unveiled its new 'Rookie Program' for university-founded teams. The program is designed to find promising campus-born ideas early and connect them to commercialization. Launched in 2018, Superstart Day has become a venue where startups seek collaboration with LG affiliates as well as investors and institutions. LG said the event has drawn a cumulative 30,000 visitors from 30 countries. This year’s event was attended by Kwon Bong-seok, COO of LG Corp., and about 30 technology executives, including chief technology officers from major affiliates. Venture capital firms, accelerators, public institutions and universities also took part to assess commercialization potential. At the event, 41 deep-tech startups presented their technologies. In robotics, solutions that convert hand movements into data for robot learning and technologies for manipulating irregularly shaped objects drew attention. LG also showcased technologies in what it calls the ABC areas — artificial intelligence, bio and cleantech — which it has identified as future businesses. LG said about 120 investment and partnership meetings were held on site. The new Rookie Program targets university startup teams. Teams selected through recommendations from major universities and research institutions, including Seoul National University, POSTECH and Hanyang University, delivered pitches aimed at raising investment and securing business cooperation. Three teams — Pinta AI, Motomind and Forbody — were chosen as final winners and received prize money, a document-review exemption for the Ministry of SMEs and Startups’ Early-Stage Startup Package, and opportunities to work with LG affiliates. They will also receive benefits from the 'Superstart Incubator,' including office space, support for demonstration costs and welfare services. LG said it will provide all participating teams with technology mentoring and on-site tours regardless of selection, and plans to expand the program. The company said it aims to build a support system that links early-stage startups to growth. Jeong Su-heon, CEO of LG Sciencepark, said, “Through the Rookie Program, we will discover young innovative startups early and build LG’s differentiated innovation ecosystem.” The government is also expanding startup support. It has declared this year the start of a “National Startup Era” and set a budget of about 1.9 trillion won to support youth startups and jobs. The Ministry of SMEs and Startups allocated 150 billion won of that total to support startups less than three years old.* This article has been translated by AI. 2026-04-23 10:34:19

Japan Urges Halt to MBK Bid for Makino, Citing High Risk of Military Use Japan’s government has urged a halt to South Korean private equity firm MBK Partners’ plan to acquire a Japanese machine tool maker, citing the foreign exchange control law. Nikkei reported on the 23rd that the government issued the recommendation because the products are sensitive goods with a high potential for military diversion and are widely used by domestic defense equipment manufacturers. Machine tools are considered dual-use items for both military and civilian purposes and are designated a “core industry” under the law. As a result, overseas investors must undergo a government review before acquiring shares. A company receiving a halt recommendation must decide within 10 days whether to accept it. If it refuses, the Japanese government can issue a stop order. The only previous stop order under the law was in 2008, when a British investment fund sought to increase its stake in electric power company J-Power. Makino Milling Machine Co., also known as Makino, said its tender offer agreement with MBK remains valid. The company said it is considering steps including measures to raise corporate value and strengthen shareholder returns through higher dividends and share buybacks. MBK confirmed on the 23rd that it received the government’s recommendation, dated the 22nd, to halt the acquisition plan. MBK told Nikkei it is reviewing its next steps, including whether to accept the recommendation. MBK Partners previously announced in June last year that it planned to acquire Makino through a tender offer and make it a subsidiary. 2026-04-23 10:33:33

Finance Minister Koo Yun-cheol to announce 4th fuel price cap at 7 p.m.; Q1 GDP up 1.7% Koo Yun-cheol, deputy prime minister and minister of finance and economy, said April 23 the government will announce a fourth round of maximum prices for petroleum products at 7 p.m. and apply them starting April 24. Koo made the remarks while convening the seventh meeting of the interministerial task force on special management of consumer prices at the Government Complex Seoul. He said gross domestic product grew 1.7% in the first quarter from the previous quarter, the highest growth rate in five years and six months. The government attributed the rebound mainly to strong exports driven by a semiconductor boom, capital market activation and policy steps to support consumption. Still, it said it will focus on macroeconomic stability and easing household burdens as ceasefire talks in the Middle East war are delayed and uncertainty over an end to the conflict remains high. To stabilize crude supply, the government said it has secured 118 million barrels of alternative crude for April and May and will smoothly provide 32 million barrels of stockpile oil swaps requested by refiners. Koo said the fourth price cap, to take effect April 24, will be announced at 7 p.m. after consultations with relevant agencies, including discussions at the meeting, taking into account international oil price trends, petroleum consumption, the fiscal burden and the impact on households. On measures for items under special consumer-price management, the government said it has operated a “public suggestion window” with a council of consumer groups since February and received 117 proposals. Areas cited as imposing heavy price burdens included food, energy, and housing and communications costs. The government said it has reflected the input by preparing price-stabilization steps such as improving the system for non-apartment maintenance fees and revising mobile phone plans. From this month through June, it will spend 32 billion won to offer discounts of up to 50% on major agricultural, livestock and fisheries products. It also said it will expand the cut in the idle tax on LPG butane, a common fuel for low-income households, to 25% from the current 105 and extend the application period by two months through the end of June. To stabilize supplies of raw materials for construction materials, the government said it will strengthen monitoring through special on-site inspections and support supply-chain diversification, including simplifying import procedures. Koo said items requiring price adjustments due to supply disruptions will be promptly reflected in unit prices for public construction projects, and financial support for the construction industry, including new funding and discounts on guarantee fees, will proceed without disruption. The meeting also discussed findings from inspections and investigations into collusion in the printing paper sector and measures to prevent repeat collusion. The government said it caught six paper companies colluding on printing paper prices and decided to impose a total of 338.3 billion won in penalties, order independent price resets and refer the case to prosecutors. To push repeat offenders out of the market, the government said it will improve the system so that penalties for repeat collusion are increased by 100% and, if necessary, registrations and permits can be revoked. Koo said the government will restrict eligibility to participate in public bids not only for bid rigging but also for non-bid collusion such as price fixing. He said the restriction period will be extended by six months for both ringleaders and minor participants to “eradicate collusion at its source.” 2026-04-23 10:29:39

LG Unveils Europe-Only Built-In Appliance Package to Target 40% Share of Global Market LG Electronics is rolling out a built-in appliance package designed specifically for Europe as it steps up efforts to compete in the world’s largest built-in market. LG said Thursday it unveiled the “LG Built-in Package” for the first time at EuroCucina, the kitchen appliances and furniture exhibition held as part of Milan Design Week 2026 in Milan, Italy, running from local time April 20-26. Europe has been a hub for built-in kitchens since the concept spread from Frankfurt, Germany, in the 1920s. Market researcher Euromonitor estimates the global built-in appliance market at about $64.5 billion last year, with Europe accounting for roughly 40%. The new package combines an oven, induction cooktop, refrigerator and dishwasher into an integrated kitchen solution. LG said customers can maintain a consistent look tailored to their kitchen layout and preferences, and can also replace units in stages when moving or remodeling. The lineup was designed for European housing conditions. LG said it expanded its range of products in the 20-inch class for smaller kitchens and strengthened hinge and heat-dissipation technologies. It also applied a “seamless design” that minimizes gaps between appliances and cabinetry and reduces protruding parts. LG also highlighted energy efficiency and smart features. The dishwasher includes an “AI SenseClean” function that analyzes soil levels and adjusts wash settings. The refrigerator uses “AI Fresh” to adjust temperature based on usage patterns. LG said the dishwasher and refrigerator deliver energy efficiency 30% and 10% higher, respectively, than Europe’s top A rating. LG said it will pursue a “dual-track” strategy in Europe by offering both its ultra-premium built-in brand SKS and the new package. The company plans to expand its 30-inch-and-larger SKS lineup in Europe to broaden premium options. LG also said it will strengthen its business-to-business push targeting luxury home builders and multi-family housing developers. During the exhibition, it plans cooking shows and wine-tasting programs and will also take part in Fuorisalone events across Milan to raise brand awareness. “By offering built-in solutions optimized for European living spaces and lifestyles, we will further strengthen our position in the premium market,” said Baek Seung-tae, vice president and head of LG’s HS Business Division.* This article has been translated by AI. 2026-04-23 10:28:28

Korea Fines Six Paper Makers 338.3 Billion Won for Alleged Price-Fixing, Orders Price Reset Joo Byung-ki, chair of the Fair Trade Commission, said Wednesday the agency decided to impose a combined 338.3 billion won in administrative fines on six paper makers for collusion, file corporate complaints and order the companies to reset prices. Speaking at a meeting of ministers on special management of consumer prices at the Government Complex Seoul, Joo said leading domestic paper companies including Hansol Paper and Moorim secretly agreed on prices for printing paper used widely in education, publishing and other everyday areas. He said the conduct lasted 3 years and 10 months starting in 2021. Joo called it an unfair practice that sought to respond to industry headwinds — including a shrinking printing-paper market and low profitability — not through productive competition but by shifting harm to consumers and other market participants. He said the FTC will continue monitoring and guidance until prices distorted by collusion return to normal levels, including through the price-reset order. Joo also signaled tougher steps against repeat offenders, including sanctions severe enough to push companies out of the market. He said the government plans to revise relevant laws to strengthen penalties by expanding surcharge increases for repeat cartels and reducing leniency for voluntary reporting. He added the FTC is considering a system to order the dismissal or suspension of executives who led collusion. He said the agency is also reviewing strong structural remedies — including corporate breakups, share sales and business divestitures — to eradicate serious unfair practices such as cartels. Joo said the government will pursue legal and institutional changes, in consultation with relevant ministries, to meaningfully restrict repeat cartel participants from market activity. He added the FTC is considering expanding to other industries a system used in construction and real estate that cancels registrations or permits for repeat collusion participants.* This article has been translated by AI. 2026-04-23 10:23:47

Lotte Hotel & Resort Joins Earth Day Lights-Out Campaign Across 24 Sites in South Korea Lotte Hotel & Resort said Wednesday it completed a nationwide lights-out campaign Tuesday to mark Earth Day, with its chain properties taking part at the same time. Earth Day is a global environmental observance established in 1970 to highlight the seriousness of pollution. In South Korea, major public agencies and facilities hold annual events that switch off lights for 10 minutes. The company ran the campaign under the slogan “Magical 10 Minutes.” It said 24 domestic chain hotels, resorts and golf courses participated, including Signiel Seoul and Signiel Busan. From 8 p.m., each site turned off exterior landscape lighting for 10 minutes and reduced lighting levels in shared areas such as lobbies and restaurants to save energy. The company said guests also voluntarily switched off room lights, joining what it described as value-based consumption and environmental protection efforts. An online promotion will continue through Wednesday on the company’s official Instagram account, featuring a photo-verification event for participation in the lights-out campaign or a quiz entry. Winners will be selected by drawing to receive an Emissary.73 Enriching Travel Kit or goods featuring the company’s character, “LUA.” Winners will be notified individually on April 30. Lotte Hotel & Resort also cited recognition for its environmental, social and governance, or ESG, performance. It said that in November last year, it ranked No. 1 for a sixth straight year in the hotel category at the “2025 Korea Sustainability Conference” hosted by the Korean Standards Association. 2026-04-23 10:23:05

Justice Ministry Rejects Reports Challenging Lee Jae-myung’s Remarks on Criminal Records South Korea’s Justice Ministry on Wednesday rejected what it called “fake news” reports disputing President Lee Jae-myung’s recent remarks about criminal records, saying the figures cited in the coverage were being misread. The National Assembly Research Service also said it is not possible to calculate a single, official total of people with criminal records or make reliable cross-country comparisons. The ministry said some outlets reported that Lee’s comments were untrue, citing a reply from the research service that referenced U.N. Office on Drugs and Crime data. The coverage said the number of people convicted in South Korea in 2022 was about 384 per 100,000 residents. The Justice Ministry countered with different figures from the Supreme Court’s “2023 Judicial Yearbook,” saying about 750,000 people were convicted in 2022 — about 1,460 per 100,000 residents. The ministry stressed that the number reflects annual convictions and “is not appropriate” to interpret as the total number of people with criminal records. It said “people convicted in a given year” and “people with criminal records” are different concepts, because a yearly conviction count does not represent the accumulated number of people with prior criminal punishment histories. In a separate clarification released the same day, the National Assembly Research Service said it did not provide any reply stating South Korea’s total number or share of people with criminal records, or data comparing such figures across countries. It said definitions and scope vary by country, making comparisons difficult, and that it is hard to find official domestic statistics showing a cumulative total. The research service added that UNODC statistics also count newly convicted people each year and have limits for direct comparisons because legal systems and punishment standards differ. It said its reply was not intended to judge whether the president’s remarks were true or false. The dispute stems from Lee’s comments at a Cabinet meeting on April 14, when he said, “Most people have a criminal record,” while criticizing what he described as overuse of criminal punishment. He said the principle of legality had “effectively collapsed.” The government has since been pursuing an “economic penalties rationalization plan” to overhaul more than 1,000 laws that include criminal penalties. The plan would shift simple administrative violations or minor legal breaches to financial sanctions such as fines and penalty surcharges, and limit criminal punishment to cases where it is necessary. As examples, the government is raising the cap on penalty surcharges for telecommunications operators that restrict contract cancellations from 1 billion won to 5 billion won, and reviewing a plan to impose penalty surcharges directly on parties involved in illegal loans by major bank shareholders. At the same time, it is moving to ease some criminal punishment provisions or convert them to administrative sanctions. Political sparring has continued. The People Power Party condemned Lee’s remarks as “outrageous,” saying he smeared the public as criminals. The government says Lee was raising concerns to improve a sanctions system centered on criminal punishment. The Justice Ministry and the National Assembly Research Service both emphasized that producing a single figure for the number of people with criminal records — or comparing such totals across countries — is not realistically possible. * This article has been translated by AI. 2026-04-23 10:21:56

Kakao Speeds Global Push With KakaoBank and KakaoPay, Linking AI and Payments Kakao Group is accelerating its global push by leaning on its financial affiliates as it moves to execute its next-generation finance strategy. Kakao said Wednesday that KakaoBank and KakaoPay are splitting roles overseas to strengthen the group’s financial competitiveness. The effort follows the “global fandom OS” strategy Jeong outlined earlier this year. The plan aims to expand Kakao’s global user base by combining agent artificial intelligence, entertainment intellectual property and Web3 technology. In finance, Kakao has positioned AI-driven services and the buildout of global payment infrastructure as key pillars. KakaoBank is exporting its digital finance model, focusing on Southeast Asia and Central Asia. In Indonesia, it entered the market by investing in the digital bank Superbank in partnership with Grab. In Thailand, it is working with a local partner to establish a virtual bank. More recently, it has teamed with Mongolia’s MCS Group to invest in the digital bank M Bank and to upgrade credit-scoring models, part of a broader push to spread an inclusive finance model globally. KakaoPay is expanding payment infrastructure overseas to speed its shift into a “global pay” platform. After rolling out QR payments, it introduced NFC payments to enable use at major merchants worldwide, and it is focusing on providing the same user experience abroad as in South Korea. It is also covering payments by foreign visitors in South Korea, strengthening a two-way payments ecosystem. KakaoPay recently joined the x402 Foundation, led by the Linux Foundation, to help build next-generation payment standards. It is also expanding points of contact with Circle, a global stablecoin company, as it explores ways to broaden a digital asset-based financial ecosystem. Kakao said its integrated approach across banking, payments and platforms is accelerating work on a new model that links AI, finance and payments. The company said that if “agentic finance,” in which AI takes part in financial decision-making, is combined with global payment infrastructure, changes to the existing structure of the financial industry could follow. 2026-04-23 10:21:06